PayPal Holdings (PYPL)
Recap: Q1 2026
New CEO Lores Lays Out $1.5B+ Cost Savings Program and 3-Segment Reorganization; Online Branded Checkout Reaccelerates Modestly to +2% CC; Q1 EPS Beats Cautious Guide — Upgrading to Hold
Recap: Q4 2025
CEO Chriss Out, Enrique Lores In; Online Branded Checkout Collapses to +1% CC; 2027 Outlook Withdrawn; FY26 Guide Implies TM Decline and EPS Down to Slightly Positive — Downgrading to Underperform
Recap: Q3 2025
TPV Accelerates to +7% CC, Venmo TPV +14% (Fourth Straight Double-Digit), PSP Volume +6%, Dividend Initiated, OpenAI Partnership Announced — Maintaining Hold
Recap: Q2 2025
Transaction Margin Dollars ex-Interest +8% (Best in Three Years), Venmo TPV +12%, BNPL Volume +20%, EPS +18%, FY Guide Raised — Initiating at Hold